TOP NEWS IN RETAIL
* Amazon.com Inc. said worldwide sales of independent businesses on its platform jumped more than 60% year over year to $4.8 billion from Black Friday through Cyber Monday, or between Nov. 27 and Nov. 30. The e-commerce company did not disclose its own sales for the period, but it said "2020 has been the largest holiday shopping season so far" in its history.
* Shopify Inc. reported that sales for the weekend of Black Friday through Cyber Monday jumped 76% year over year to $5.1 billion as merchants on its platform surpassed the more than $2.9 billion in sales recorded in 2019. Between Nov. 27 and Nov. 30, Shopify customers rose 50% year over year to more than 44 million users.
* JD.com Inc.'s healthcare unit, JD Health, raised HK$27 billion from its IPO after pricing shares at HK$70.58 apiece, at the top of its target price range, Bloomberg News reported, citing people with knowledge of the matter. The e-commerce company offered 381.9 million shares, or 439.2 million including the overallotment option, according to the news outlet.
➤ L'Occitane returns to pre-pandemic shipments, beauty sector looking better
L'Occitane reported a slower rate of decline in revenues in calendar Q3 as the impact of COVID-19 related store closures passed. Indeed, its supply chain activity has returned to pre-pandemic levels, though it has lagged the broader beauty sector.
➤ Shopping activity dips during Black Friday weekend but moves online – NRF
In-store shopping declined as many retailers opted to close on Thanksgiving Day amid the pandemic.
➤ Collapse of Arcadia, Debenhams shows COVID-19 blow to UK retail sector
The entry of Debenhams into liquidation and Arcadia Group into bankruptcy protection within hours of each other has put 25,000 jobs at risk.
TEXTILES, APPAREL AND LUXURY GOODS
* Tailored Brands Inc. emerged from bankruptcy after its financial restructuring eliminated $686 million of existing debt. The company's capital structure now consists of a $430 million asset-based loan, a $365 million exit term loan and $75 million from a new debt facility.
* Trip.com Group Ltd.'s third-quarter non-GAAP diluted EPS came in at 34 cents, down from 52 cents a year ago but still above analysts' expectations. Net revenue dropped 48% year over year to 5.5 billion Chinese yuan due to the impact of the ongoing coronavirus outbreak.
* India's Tata Industries Ltd. is in advanced talks to acquire an 80% stake in online grocer Innovative Retail Concepts Private Ltd., operating as BigBasket, for up to $1.3 billion, The Mint reported, citing three people with direct knowledge of the matter. Any potential deal would likely include Alibaba Group Holding Ltd.'s entire 29% stake in the online grocery delivery service, according to the report.
HOUSEHOLD AND PERSONAL PRODUCTS
* Beiersdorf AG named Colgate-Palmolive Co. executive Astrid Hermann CFO and a member of its executive board, effective Jan. 1, 2021. Hermann will succeed Dessi Temperley, who is set to exit the company after her three-year contract.
* Coty Inc. appointed Stefano Curti chief brands officer of its consumer beauty division and Alexis Vaganay as the unit's chief commercial officer. Curti is joining from Markwins Beauty Brands while Vaganay was Coty's executive vice president for Europe, the Middle East and Africa market.
* Sephora will launch shop-in-shops at 200 Kohl's Corp. locations in fall 2021, with plans to launch at least 850 stores by 2023. The LVMH Moët Hennessy - Louis Vuitton SE beauty unit will also offer its items on Kohl's online platform in 2021.
FOOD AND STAPLES RETAILING
* Tesco PLC will repay the £585 million of business rates relief it received from the U.K. government and the Devolved Administrations in relation to the ongoing coronavirus pandemic. The grocer said its business has been resilient amid the outbreak despite expecting to incur £725 million in costs in 2020.
HYPERMARKETS AND SUPERCENTERS
* Walmart Inc. will remove the $35 shipping minimum on its online platform for Walmart+ members, starting Dec. 4. Users will get next-day and two-day shipping for free regardless of their baskets' total.
* Walmart will lay off 1,241 employees in Arkansas and New Jersey on Jan. 31, 2021, Retail Dive reported, citing retrenchment notices filed with the concerned state authorities. The job cuts are part of Walmart's move to bolster its omnichannel operations, the report said, citing a July memo in which the retailer announced layoffs.
HOTELS, RESORTS AND CRUISE LINES
* Carnival Corp. & PLC appointed Stein Kruse senior adviser to the chairman and CEO. Kruse previously was group CEO of Carnival U.K. and Holland America Group, which has named Jan Swartz president. Carnival's Cunard line appointed Jamie Paiko vice president of sales and Nicole Knox director of marketing.
CASINOS AND GAMING
* Caesars Entertainment Inc. agreed to sell riverboat casino and hotel Belle of Baton Rouge to CQ Holding Co. Inc. for an undisclosed sum. The transaction is expected to be completed in mid-2021, subject to regulatory approvals and other customary closing conditions.
* Tilman Fertitta is considering an IPO for "a substantial part" of his hotels and casinos business Golden Nugget Inc. and restaurant business Landry's Inc., Bloomberg News reported, citing people familiar with the matter. Sources noted that talks are still preliminary and Fertitta has not made a final decision. A Golden Nugget representative reportedly declined to comment.
* Retail turnover in Germany grew 8% year over year in real terms, or 9.4% in nominal terms, in October, according to the Federal Statistics Office.
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